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tv   Making Money With Charles Payne  FOX Business  May 11, 2017 6:00pm-7:01pm EDT

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down, down around 24 points, they were down triple digits at the open. u.s. oil prices settling at $2 higher, you know what? that does it all for us, thank you for having us in your homes. we had a great time tonight. david asman filling in for charles payne. >> everybody has a good time with you, emac. i'm david asman in for charles payne, you are watching "making money." bombshells from acting fbi director andrew mccabe testifying before the senate intel committee on capitol hill following the firing of his former boss james comey. the white house saying mccabe is on the short list to replace the ousted fbi chief but mccabe's testimony seemed to contradict some of president trump's appraisal of turmoil at the fbi under comey watch. take a listen. >> is it accurate that the rank and file no longer supported director comey? >> no, sir, that is not accurate, and it has been the greatest privilege and honor of my professional life to work
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with him. i can tell you also that director comey enjoyed broad support within the fbi and still does to this day. >> joining me for more on mccabe's pushback and fallout from the comey firing, we have byron york, former special assistant to president george w. bush ron christie and the washington examiners hugo gurdon. thank you veryuch. byron, first to you, he did -- i'm going contradict what i initially said, he did agree with president trump that when it came to hillary clinton's e-mail and that entire mess beginning on july 5th when comey laid out what seemed to be a case to prosecute and decideda the end not to, he did say that that, the fbi staff really objected to, correct? >> he did. and he said there was a difference of opinion. i mean the fbi has thousands of employees, and there was a difference of opinion, but basically i think there were three headlines for what he said today and two were
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favorable for the white house and one wasn't. he said the white house is not interfering, has not interfered with the investigation that's good for the white house. he knocked down reports that james comey asked for more money and resources for the investigation, that was good for the white house, and because there was this intimation that somehow trump had fired comey just as he was asking for more resources, and then the last thing is what you mentioned, he did say comey enjoyed wide support in the fbi, and that contradicted what the president said about comey losing the confidence of people at the fbi. >> so hugo, two out of three seems not so bad for the president? >> yeah, i thought it was not bad at all. i agree entirely with what byron said, and the thing about saying that the comey enjoyed the support, in a way it was silly of the president to put it that way because there are bound to be people in the fbi who would come out and say that they had full confidence in
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comey, so there will be mixed opinions on that too, but on the really clear things that the investigation was not underresourced and it was not normally the way that resources would have been requested, and that there was absolutely no sort of decline or diminution of the investigation, all of those things that mccabe said were actually in the president's favor. >> ron, you look at mainstream media, and you see this breathlessness about how everything that mccabe says seems to contradict trump talk and how in fact, the president's in deeper. when are we ever going to find some kind of truthful statement or recap of what has happened on capitol hill from the press, if ever? >> good evening, david. i don't think we will, certainly not in the short-term. narrative that the mainstream media wants to spin here is that, of course, the president of the united states fired comey because, of course, in this investigation, they were closing in on him about the russian influence in our election, and therefore, comey
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had to go to spare the president the embarrassment. when you listen to what the fbi director said previously, there was no collusion, if you look at intelligence communities and house and senate said, there was no direct collusion with him or the campaign. that's the spirit they want to have. until they decide to look at the facts, and follow the facts there's no evidence that's not in their best interest. that doesn't put eyeballs to sell advertising. >> ron, you get the sense that, in fact, there is this sort of determination to find something against the president that could lead to impeachment, right? >> no question, this reminds me of the earliest days in the george w. bush administration when people said that president bush was illegitimate. he was there improperly. look at impeachment. parallels between 2001 and president trump resonate with me. they're going to keep digging, keep trying until they can find something, anything, david, to
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try to impeach him. >> byron, there is the impeachment clock, i've seen it used a couple of times in mainstream media for obstruction charge against the president, something whether his firing of comey was obstruction of justice or something else was obstruction. it's all leading to impeachment that that's what they want? >> there's no doubt there are members of congress who want to remove the president from office. i mean maxine waters talked about impeach 45, 45 being the president. there's also been talk about using the 25th amendment to somehow declare the president unfit, perhaps mentally, unfit for office to try to remove him. this is all about 2018. because bills of impeachment began in the house of representatives and one is not going to begin in the house of representatives. they have to win the house, and you'll have serious talk whatever trump has done, you'll have serious talk about impeachment. >> i want to talk about the house, hugo. i don't want to get away from
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the media for the moment. i love rush limbaugh's description, he thinks everyone has a wrong. most people think it's democrats influence the media. he says it's exactly the opposite, that the media is now in charge and really kind of guiding all of the various political narratives that are picked up by politicians. do you see any of that? >> i think there's a lot of truth in that. the media are immensely powerful and they are clearly, they have been described by the president as, you know, his enemy or the enemy of the american people and to some extent, they are proving him right. there's a lot of what is going on in the media reporting which shows a distinct animosity towards him. i think that even if one doesn't get to impeachment, there's no downside to this for the democrats, because they are undermining the president's ability to govern. if they can make him a failed president, that's pretty much
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as good, then they can win in 2020. >> ron, do you think that's a little conspiratorial that the media is pushing that agenda? >> absolutely not. it's important to recognize the significance of what he said, articles of impeachment have to start in the house of representatives. the democrats' main target is to retain control of the chamber so they can try to find a way to bring articles. republicans are going to do everything they can to block that route. let's recognize, we're not talking about leading the country, not talking about health care, not talking about north korea. we're only talking about the fantasy issues they possess doing anything they can to bring the president down. >> if they are fantasy issues, we'll find out. fact is, byron, there are serious issues put on hold. today, maybe it's a small example, but not to the people concerned. they were supposed to be hearing on seniors and ability or inability to get proper health care. they tabled that issue because they said the russia thing was
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so important, so there is real legislation that is beingside lined for this wild goose chase? >> well, democrats have the power to slow down the senate, and they have the power to withdraw even the minimal support that they have given. notice one example here, rod rosenstein, the deputy attorney general who played this key role in firing comey. >> he wrote the letter that came out on tuesday morning, yeah, go ahead. >> he was confirmed just a couple of weeks ago on a vote of 94-6 in the senate, and republicans have cited that vote as evidence that he has wide bipartisan support, and therefore this act of firing comey is more legitimate, and i think the lesson for this, for democrats is let's not have more 94-vote votes. make the republicans pass everything they can on 50, 51 or 52 votes without democratic help. if you thought things were bad in the senate, they could get worse because of this. >> hugo, the other thing is
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some of this is having an effect. a lot of people, one-third of people who are solidly for trump have not lessened their support for trump, but there is evidence that unless donald trump gets a firm legislative victory, the rest of his agenda could be slipping quite a bit. he really needs a legislative victory and i'm wondering where that comes? will it be health care? will it be taxes? will the republicans hold together without any democratic votes to pass something? >> well, the health care is going to be very difficult in the senate because the republicans can only afford to lose two votes, and even then that would take deciding vote by the vice president, so the repeal and replace of obamacare is going to be very difficult. without the repeal and replace of obamacare, the budget -- the tax is going to be very different. tax reform is going to be very difficult too because it changes the numbers. they won't be the trillion dollars to play with. but you remember that the
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democrats -- chuck schumer suggested they couldn't go ahead with the vote for neil gorsuch for the supreme court because of the russia investigation. every turn the democrats are trying to stop the president from gaining victories so that he can look like a failed president, and they're going to use this whenever they possibly can. they made it plain, they're going to shut the senate down. >> meanwhile, the economy is slowing up. still positive but slowing up. we desperately need a shot in the arm, got to come from congress. gentlemen, wonderful discussion, appreciate it. coming up, the fallout from comey's firing piling up. and president trump is revealing new details how it all went down. stay tuned. liberty mutual stood with me when this guy got a flat tire in the middle of the night, so he got home safe. yeah, my dad says our insurance doesn't have that. what?! you can leave worry behind when liberty stands with you™. liberty mutual insurance.
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. >> monday, you met with the deputy attorney general rod rosenstein. >> right. >> did you ask for a recommendation? >> what i did is i was going to fire comey. my decision. >> you had made the decision before they came in the office. >> i was going to fire comey. there's no good time to do it, by the way. >> because in your letter you said i accepted their recommendation, you had already made the decision. >> i was going to fire regardless of recommendation. david: that was president trump telling nbc news he would have fired james comey anyway, regardless of any recommendations he received. joining me for more on the timing and the optics of the move, the daily caller news foundation editor kay freights and washington free beacon, what did you make of that? he made strong comments calling comey a show boater, et cetera. look, trump's not wrong in there was no good time to do
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this, honestly it's a good thing, if he was going to fire comey, he got it out of the way now so the news stream is condensed for the media and not a trickle stream for cnn and msnbc. no fbi director should find out he's fired on the news. shouldn't have his car chased like it's a cop pursuit. that is extremely disrespectful and to scapegoat him at the same time, comey did not deserve that. david: elizabeth on the timing issue, the president said there is no good time. clearly, if he had fired comey immediately out of the gate right after the inauguration, the same thing would have happened. the media would have been down his neck, how dare he do this too soon before he gives comey a chance, et cetera. don't you agree? >> absolutely. the media and democrats, that's why you see them so twisted around this story because everything that trump does he can't win. it's always the worst thing ever and always impeachable offense.
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what you have here with the comey story, you can roll the tape of every leading democrat that has at one point called for james comey to be fired, to resign. as long as it affected hillary clinton negatively, and then once trump does it, how could he do it now? they have no idea how to handle jim comey who has been such a figure throughout this whole campaign and now with this latest firing, it's really stunning to see the democrats twist themselves in knots trying to say this is the worst thing ever when they themselves called for his resignation. >> and to see how quickly they dropped hillary clinton down the chute. forget the damage done to her she may have lost the election because of comey. now they don't care. loyalties don't last long. maybe generally true whether you are democrat or republican, but particularly with the democrats. >> of course, look at what trump did today. he retweeted rosie o'donnell
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who called for comey to be fired a few months ago which is funny in itself. i think trump has an opportunity here. kevin daily at the daily caller news foundation merrick garland has amazing opportunity as fbi director. bias partisan support, impeccable record, and his appointment to the fbi would open up a judicial nomination for trump of a conservative. it would appease the left, it would make trump look good and offer him a lot of options. i think he needs to consider him more than he has. david: interesting idea. to katie's original point that comey shouldn't have been treated the way he was. there are republicans that agree with that by the way. there have been other fbi directors that presidents despised. john f. kennedy and j. edgar hoover, they couldn't stand each other. hoover tried to get dirt on kennedy, i'm afraid he got dirt on kennedy but held back because they did learn to work together. no matter who is appointed is
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it possible the visceral hatred between comey and trump might be avoided? >> yes, i think so. i think honestly that might be a reason why trump kept him around as long as he did because he maybe saw an opportunity that he could work together with him and let all the baggage from the campaign and all that be over with. but really moving forward, i don't think trump wants a bad relationshipment i think the time -- comey's time had come, he was never going to last he had been head of the fbi for a long time and a lot of stuff we forget about. the china opm hack, he was the head about that. we never talk about that. nefarious adversary that hacked and stole all of our government's information. you have snowden, the list goes on and the clinton e-mail investigation as well was not handled properly.
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time to go. david: as far as judge garland i don't think he has law enforcement experience, that might be a negative with regard to him. interesting suggestion. ladies, thank you very much. good stuff. >> thanks. >> a gop senator throwing out shocking suggestion for comey's replacement. we gave you a little idea who that was in the last segment. stay tuned.
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. david: let's talk a bit more about republican senator mike lee's surprising suggestion for new fbi director. he tweeted instead of a special prosecutor, president trump should nominate merrick garland to replace james comey. judge merrick garland is, of course former president obama's 2016 supreme court pick. joining me is the former chief of staff for senator mike lee, boyd mathisson and red alert politics editor ron meyer. boyd, i called around to friends inside the beltway.
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i've got a lot of them down there, and they basically said, look, mike lee is a nice guy, but that's a terribly naive suggestion, first as i mentioned before because he has no law enforcement experience, but more than that, you can't make any deals with democrats these days, no matter what you do, you're not going to calm them down. they want victory. they want trump out. that's their goal, to which you say what? >> so one, i think he would be a fantastic pick for a number of reasons. one he was a federal prosecutor, he was the guy who prosecuted timothy mcveigh and the unabomber, he's been in the department. he gets that component to it. i think he could rally some of those democratic vote as well because the fbi director is a position we should be able to cross the aisle for. david: we should, but boyd, what we've seen the past couple of days is a perfect example how it can't be done these days? >> well, i think this is one of those that could transcend it.
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have you some of those on the left that are going to scream, hey, you're firing the guy we publicly prayed that you would fire, so you do have some of those, but you have people, amy klobuchar responded to senator lee's tweet and said that's a great idea. i think it would be the ultimate show of confidence by the trump administration to say look, we've got nothing to hide as it relates to russia, let's put merrick garland in there, i know, david, there are republicans in the senate and the house who are very worried that someone comes in who is a political hack, a political appointee -- david: i know, let me give ron a chance. i didn't know about the prosecutorial experience of judge garland, that is in his favor. do you think it would cause the democrats to calm down a little about the russia investigation stuff? >> david, it has to. we have to do something. this is a good shot at it, maybe somebody like former
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senator jim webb, somebody that the democrats will get behind. david: oh! >> there would be bipartisan support. the point is trump doesn't want agenda to be focused on new fbi director, especially for the business thing, getting the economy going, we need to get tax reform done. need to get obamacare repeal done, infrastructure bill going, and as long as we're debating the fbi, the democrats and the media hit trump, nothing is going to get moving in the agenda. best way to end the debate, get moving is do someone like a garland, jim webb. david: ron, i got to press you on this, do you really think that would calm down the democrats? don't you think that they are out for the big golden ring and that's the impeachment ring? that's what they're aiming for? >> i mean come on. they've been fighting for this guy for a year to be on the supreme court. he's got to be qualified to be on the fbi. david: hold on, hold on. i'm not disagreeing with his qualifications, what i'm saying is the democrats who say this
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would be a great thing when, if it actually happens, if he is the one that's nominated, i don't think it ends the rancor taking place inside the beltway at all. >> maybe it does, maybe it doesn't. i don't think the russia thing would end, when trump bombed syria, when he sat down with president xi in china, it came back because the trump administration fired comey at wrong time. all right? david: boyd, do you agree with that? >> the timing was horrible, and like many things the trump administration rolled out, it's a mulligan thing, they have to do it on the second try. i think if they come out with something strong, for too long we've been telling the american people to just trust washington, this could be one of the transcendent moments, look, we're going to give trust to the american people and give them a reason to have the trust -- david: both of you make a good case, i disagree with both of you, i think it's because i grew up in washington, i'm a little more skeptical, if not
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cynical about the situation. thank you very much for coming in, gentlemen. appreciate it. >> thank you, david. david: from savior to sound rel, how the hero of the house health bill was welcomed home? >> you have been the single greatest threat to my family in the entire world! ♪
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>> you have been the single greatest threat to my family in the entire world. you are the reason i stay up at night. when i am drowning, and you insist that you pay, that is immoral, sir. you came for my wife. i will not forgive. i will not forget. >> town hall train wreck, congressman tom macarthur took a five-hour beating last night as grilled the new jersey republican for effectively saving the house gop effort to repeal and replace obamacare with his namesake amendment. meanwhile health insurer aetna rubbing salt in the wound yesterday saying it's going to
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exit the 2018 obamacare insurance market in the two remaining states where it offered. here now to discuss all of this, chief correspondent. and former gw bush policy adviser michael barns. good to see you all. byron, when i first saw these town halls, which are focusing on republicans, i thought maybe it's stage because, you know, they're all holding the same kind of cards, they look like more like activists than the 2010 tea partiers, this who don't have a activist bone in their body. but that particular thing we just saw looked very real to me. did it not to you? >> absolutely. i think we have to take these town halls as a expression of real sentiment in the members' district. this one, i think you have to give macarthur credit for
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staying there. >> five hours. >> it's a show of good faith on his part. these people i think were quite genuine. listen, if they're outside agitators, someone had to pay them over time to stay for five hours. so i think it's very clear and 2010, you had intense feeling against on the republican side on obamacare. now you have intense on the democratic side. they can be both genuine statements of the feelings of part of the electorate. . >> but, michael, meanwhile aetna is leaving for a reason. aetna's going to lose $200 million this year. aetna lost $700 million in the previous years because of obamacare. there are good market reasons and the only alternative is socialized medicine. i mean, this public private participate of obamacare doesn't work. >> david, i disagree wholeheartedly. i think big insurance has brilliant manipulated both politics and pr to make people believe that these exchanges are failing.
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the reality is that the republican health care bill could have implemented some basic reforms to the affordable care act that included meaningful insurance reforms that would have stabilized the exchange markets, not for big aetna because they're not going to be able to thrive in this market. but the smaller nonprofit companies and smaller for profit can with some changes that are already in this field. but they didn't have to go and give away the insurance industry everything that they wanted, and that's actually what the -- >> elizabeth, here is the problem. it's fundamental. the problem with insurance and frankly, i don't think insurance is the solution to everything. i think sometimes you have bad health care with insurance. i think good health care is the did key. but the main thing is you're forcing what obamacare and what the gop bill does to a certain extent is force companies to do what is against their own best interest. and i'm an old kind of economist. i believe that the market works, and you can only go against the market at your detriment.
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it's going to hurt you. so they're trying to force a round peg into a square hole, and it's not working. >> right. and so, again, that's the problem with this insurance and talking about covering preexisting conditions. it doesn't make a whole lot of sense for the insurance company, and it's not really how insurance works. so when you're talking about how to reform this, at least the republican bill gives a little bit more options. when you're talking about these exchanges where aetna's leaving, you had all of these insurers leave. where's the choice for these guys that are so upset at the republicans are trying to fix it or roll back the bad parts of obamacare. where do they go now when they have to enter the exchange, and they have only one option and soon no options? it's not an easy thing. >> hold on a second. because, byron, what i was thinking because, again, i've got this free market perspective. forgive me, but that's what i have. that's in my bones. i think that eventually unless
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you get back to market principles where the health care system in this country is motivated by market principles rather than government mandates, you're going to have a problem. but now it has gop stamped on it, assuming that the senate passes this bill. >> in the real world of today, though, obamacare was created to be very hard to undo. i mean, democrats knew they were passing a party-line vote. i mean, we've never had an entitlement that passes into law on a party-line vote like this. and they knew republicans would come after it, and they made it very difficult. and what you have seen in the house, and you'll see more of it in the senate is republican lawmakers who are very reluctantly to cast a vote. nobody pretends that this is a full repeal of obamacare. and it is so difficult because of those things like age 26, preexisting conditions. >> michael, i have to -- hold on a second.
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my producers are giving me a wrap right now. but, michael, since you're so anxious, get it in in 15 seconds. >> free market. you buy something, you need to get something for it. you buy things that you don't expect to happen to you, that's why insurance is there. and that's why you buy it. >> good nutshell description. thank you very much, gang. appreciate y'all being here. meanwhile, major averages ending the day lower. the dow extends losses for a third straight session. we're going to tell you what it means for your portfolio coming next my friends think doing this at my age is scary. i say not if you protect yourself. what is scary? pneumococcal pneumonia. it's a serious disease. my doctor said the risk is greater now that i'm over 50! yeah...ya-ha... just one dose of the prevnar 13® vaccine can help protect you from pneumococcal pneumonia- an illness that can cause coughing, chest pain, difficulty breathing, and may even put you in the hospital. prevnar 13® is approved for adults 18 and older to help
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i usually make their lunches then, and i have a little vegan so wow, you are busy. wouldn't it be great if you had investments that worked as hard as you do? yeah. introducing essential portfolios. the automated investing solution that lets you focus on your life. at crowne plaza we know business travel isn't just business. there's this. 'a bit of this. why not? your hotel should make it easy to do all the things you do. which is what we do. crowne plaza. we're all business, mostly. . >> a delaware judge denying health insurer anthem's request for preliminary injunction, allowing cigna to walk away from its 54 billion-dollar deal with the company, may cost anthem over 15 billion in damages
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. >> stocks ending the day in the red as the retail sector weighed heavily on investors. joining me now to discuss, kevin kelly of reek oncapital
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partners. well, the real story, kevin, is the turn around in the market because the in the beginning, the first half hour or so, it looked like we were going to end 200, 300 points to the down. but it recovered back but just barely. >> yeah. i think what you need to focus on is retail is isolated from the rest of the market. if we look at he didn't season, this coming around, you have 87% of the companies on the top line. >> not retailers. >> but 26% have been on the top line. and you're seeing revenue growth, and we haven't had that in a long time, and the market is appreciating. >> it's interesting. apple didn't beat on the revenue. it beat on the profit but not the revenue. let me say something remarkable. of all the problems inside the beltway, they had another budget surplus. they had $182 billion they got because of all of this tax money that has been pouring in. they were expecting a big deficit again. >> yeah. one-month bragging
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rights, but you have to look underneath the surface. >> actually, it's two months. >> well, it has to do with the corporate tax receipt from march into april now. but you need to focus on what the cbo is actually saying. they're saying, listen, if we do get tax reform, that's going to bring government revenues down; right? that's the only way they generate it. and then we're starting to see an aging population that will burden the medicare as well as social security. so deficits are expected to widen. >> as a supply-sider, i disagree with your comments about tax cuts. i think sometimes they can bring in more revenue than they have in the past. but i agree with you that that may be one of the reasons that the surplus. because there are these huge tax halls. i'm wondering since we don't have the tax cuts yet and since people's expectations have diminished quite a bit and companies are not spending, next time we're going to have maybe because we're not going to have as much tax, there's not as much money from the stock market as there was the first quarter.
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>> yeah. and we had a great. the 182 billion had to benefit from the rising energy that's come around, corporate profits were up on the energy side, the dollar got weaker, so there were more sales, more revenues generated that way. >> also because of the market activity. so much market activity and even though a lot of people were buying, a lot of people were selling, making a profit, they had to send a big chunk of that profit into the tax man. >> well, and also america accounts for 25% of the world gdp. and as the world is getting better, you're starting to see american companies benefit, so you're starting to see a lot of those taxes come in as well as they're selling the domestic companies that are selling overseas. >> are companies now holding back on investment because they're worried about what's happening with trump? >> yeah. absolutely. i think they definitely are worried because they were promised tax reform, and you can start to see. >> they have had in a big way. >> but financials have pulled back, same with small caps. the roughl russell 2,000, caps that benefit from tax breaks and benefits.
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if you look at the russell 2,000, you're seeing the volatility has elevated, and they haven't performed like the large company. >> but on financials in particular, you have a whole bunch of financial regulations that could be turned around internally without trump having to worry about congress at all. wouldn't that turn it around for the financials? >> yeah. i think that's going to turn around as well as the fed raising rates we're going to see their net interest margins increase. that will help the banks actually generate more revenue. they've been is a littled by the regulatory burden. they've been putting it into compliance, which is nongenerating department of their companies; right? now they're actually focused on increasing earnings. >> kevin kelly, what a pleasure to see you. thank you very much. coming up, president trump uses the word self respect and fair to describe his economic policy. but the economist magazine has a different choice of words. we're talking trump economics coming next. you always pay
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david: president trump seeking a scathing review, starting with the headline itself it reads cooking up an economic policy, donald trump's economic strategy is unimaginative and incoherent. so is trump economics really as bleak as this article portrays it to be? here to discuss, faint newton stacy and fox news contributor steve cortez. all right. steve, you're in chicago, so i'll ask you first since you're not in the house here. there was a time when i used to love the economist magazine. it was in the 1980s. they were free market. well written stuff. something happened along the way about ten years ago they drank somebody's kool-aid and lost that vigor that they had. don't you agree? >> you know, david, it's funny you say that because i couldn't agree more.
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i'm in exactly the same boat. and i would tell you this. when it comes to the economists, i think sadly it has become sort of the town paper for globalist elites. it's sort of the british version of the new york times is here. and, by the way, globalist elites have had a wonderful decade. if you're part of the crony class that has done so well under the construct of the last administration in america, and i would say even the one before that, you've had a fabulous decade. guess what? working americans and around the world, about although i want to focus on america, working americans have had a miserable time. haven't had a pay raise yet in this century, and it's 2017. they revolted at the ballot box simple voted for donald trump. against cronyism david: that's what this tax policy was the embodiment of. they called it incoherent in the economist. i've been studying tax policy for a long time. since the 1980s i was working
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for the journal on tax. it's not unimaginative. it's very imaginative. it's using policies that have worked kennedy and democrat and ronald reagan, a republican. so do you see it as incoherent as the economist does? >> i do not i think it's a plan to grow small businesses. i think it's going to remove some of the burden from consumers, and i think that that's what we need, especially with the gdp number that was out earlier thisiary. it's pretty low. david: and it's a revolutionary plan. what appeals to me most about the plan is the idea of getting all of the accountants out of the situation. ending those deductions. i mean, keeping the real estate deduction and a couple of others that americans depend on. but basically streamlining it to the point where you wouldn't have to spend thousands of dollars on a accountant to do your taxes. >> yes. exactly. and i think the more streamlined it is, people are planned and less burdened. and i think the market has been responding to this tax plan. so hopefully he can make it
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through and hopefully the fed tightening the rates and simultaneously reconciling their balance sheet and trying to keep the reserve requirements high doesn't actually sabotage the stimulus of the tax plan. david: steve, what concerns me. the first thing that concerned me was that gary cohn and some other people who flirted with democrats in the past might water it down. well, they didn't do that because the -- what they have come out with so far is good, strong stuff, as francis just described it. but might then shaken there's so much push back from democrats, they don't want anything to succeed now. might they pull back to the point where it gets diluted to -- into practically no change at all from revolutionary change? >> well, david, i sure hope not, and i believe not. and i'm in contact -- i was at the white house last week. i'm in contact with my friends at the white house, people i complained with during 2016 just about every day. and, look, there are different voices, and i give the president a lot of credit, by the way, for reaching out to a
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lot of democrats or former democrats, people like gary cohn he mentioned, he wants to hear from all sides. but i think in the end, he knows very well and his sop advisers know very well who elected him. and it was -- if i can bring it to chicago where i am, it was midwestern blue-collar voters. people who had been utterly left out of this incredibly sluggish somewhat expansion we had in the american economy, and they are making their voices heard and what they want is grow policy. they don't want handouts from government. they want real economic growth. david: one word answer from you both. first of all, is it going to pass? >> yes. >> what do you think, steve? >> yes. david: okay. let's hope you're right. coming up, president obama wants to save the world, and he wants to get paid the big bucks to do it. [vo] when it comes to investing, looking from a fresh perspective can make all the difference. it can provide what we call an unlock: a realization that often reveals a better path forward.
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at angie's list, we believe there are certain things you can count on, like what goes down doesn't always come back up. ♪
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[ toilet flushes ] ♪ so when you need a plumber, you can count on us discover all the ways we can help at angie's list. because your home is where our heart is. david: a climate quandary. president obama speech to
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speech preaching globalism, of course, at a price. the former president is raking in a reportedly $3 million for his foundation as he flies in and out on private jets and multicar convoys and of course contradicting out of that rhetoric. and boston herald columnist and radio host cohen. good to see you both, ladies. so, denene, i kind of don't mind the money he's raking in because it's a free market and all presidents do it going back at least harry truman didn't, but he was the last one who didn't. it's this hypocrisy and the whole global warming stuff. creating this huge carbon footprint while preaching about global climate change. >> yeah. $3 million for former president obama to say he was for something before he was against it. he is a liberal hypocrite. liberal limousine hypocrite.
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the air -- the private jet, helicopter, a fleet, caravan of cars. he's no different than al gore, and he claims to be for the environment. what about skype? skype works perfectly well. >> it's true. it does. >> what do you think about all of this? >> i agree with denene. clearly president obama is being very hypocritical. you know, one of the things climate change proponents want us to do less of is reduce our carbon footprint by using less fossil fuels. but when you fly in these private jets, you're blowing out the ozone and traveling in this gas guzzling suv. it's problematic. david: does it catch you in any way? rhetorically we're talking about it here but the mainstream media is not going to talk about this. >> no. the mainstream media is not going to focus on the fact that there are thousands of americans being harmed by high energy prices as a result of former president obama's
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failed energy policy. the number of coal miners that are out of work, there's a lot of harm going on economically in hard-working american households because of former president obama's policies. and president trump ran on rolling back these initiatives, these regulations. folks are looking forward to him doing so to get our economy going and to get people working again. david: he already has -- president trump already has reverse a lot of the regulations and held back the coal industry and other industries in the energy sector, of course the pipeline, et cetera. but there is the paris climate, and he does have push back from within his own family. ivanka is very much a believer in doing what you can to stop man made climate change, if there is such a thing. so who do you think wins on this issue? >> you're right. he has different forces within his inner circle pulling him a different direction. epa had scott pruitt and steve bannon want the united states to pull out from the accord because it's unfair.
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if you look at the terms of the paris agreement, it prices the biggest burden on the united states and other developed nations while giving a huge pass to china and india. david: of course. >> they don't have to reduce their emissions and they're one of the biggest polluters in the world. so there's huge inequity there, so i understand where they're coming from. but with respect to ivanka's position, of course we should be all doing what we can to reduce our carbon footprint, but we need to do it fairly and equitably against all nations. i don't know why we're empowering china while hurting the united states and our own economic growth. david: ten seconds. who wins the debate with respect to the paris accord? >> well, i hope americans will win this debate because that was one of president trump's campaign promises and folks are looking for him to keep his word. david: so you do think he will hold back on ivanka toward the paris accord?
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>> i sure hope so because it puts our country at a competitive disadvantage, so we'll have to see what happens. >> we've got to leave it at that. thank you, ladies. thank you for joining us, everybody. lou dobbs is next right here on fox business. lou: good evening, everybody. washington, d.c. tonight is swirling. president trump today defended his firing of james comey once again. and the fbi had been in turmoil before he chose to take action. and the president's views supported by new acting fbi director andrew mccabe. mcabe today testifying that many of them were angry and frustrated with director comey's decision not to prosecute hillary clinton. the mainstream left-wing media has always been claiming that

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